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Around 30 or so banks and crypto firms have pending requests for a Fed master account, the Fed disclosed in a new database. federalreserve.gov/paymentsystems…

Excited to share news about my book PAPER SOLDIERS! It's about how the weaponization of the dollar changed the global order and how Treasury used the buck to define America's role in the world Coming on 3/19/24 Don't forget to pre-order ---> penguinrandomhouse.com/books/705364/p…

I had the chance to join David Beckworth on his podcast to discuss the nuanced legacy of Arthur Burns, the Fed Chair for much of the chaotic 1970s. mercatus.org/macro-musings/…

Welcome to the club, my friend!

The politicization of bank supervision and regulation takes its next logical step. Like I told Craig Torres when the report first came out. bloomberg.com/news/articles/…

Kaleb Nygaard Craig Torres Her nod to the “expedited timeframe” also seems to be echoing your earlier comment expressing concern about the choice of deadline for the report:

Zoltan announces to Tracy Alloway and Joe Weisenthal that he’s starting his own firm: bloomberg.com/news/articles/… And this tweet officially comes full circle:

NEW note out — “The Macro Story of SVB Isn't Just About the Fed” withoutwarningresearch.com/p/the-macro-st…

And it's certainly not about SVB dropping its rate hedges. The rate losses are mostly a subplot. Banks don't typically hedge their rate risk, and the way banks' take rate risk isn't really the textbook definition way it's been discussed. I offer a parable of the corn producer:

T-50 days to the Jackson Hole symposium 🤯

“The Anguish of a Central Banker” Burns 1979 “The Triumph of Central Banking?” Volcker 1990 If Powell pulls this off, his 2026 post-retirement speech can remove Volcker’s question mark.

Nice and clean little graphic here!

Fun fact: Fed officials’ forecasts are anonymous to each other as well (Powell’s colleagues don’t know which “dot” is his) federalreserve.gov/monetarypolicy…

Next year's application for our master's degree in financial stability is OPEN!! This program is for professionals thinking about systemic risk at central banks, treasury depts, financial institution risk groups, etc Please share w/ anyone interested! DMs open for any questions

The Fed Board meeting minutes are insanely useful and interesting materials. Until now, they’ve only made public to 1966 (fraser.stlouisfed.org/title/minutes-…) I will soon extend that to 1967 🎉 🎉 But first I’ll have to somehow get them off……the CD the Board is mailing to me 😂

This one-year, in-residence program gives financial stability professionals formal training in: • financial crisis management • global financial regulation •central banking and monetary economics • macroprudential policy •crisis communications and more!!

Dalle3 channeling its inner Milton

Dan Awrey And assuming working printers? No wonder the Fed was behind at the beginning of the financial crisis: